Well ,George, once again you have missed the boat. Your all consuming concern with the deep pockets of the title industry is not all that is at stake.There is also the interest of the property owner who may or may not have a homeowner's title insurance policy. Even if he does, it does not mean that he is going to get paid. As you know title insurers like most insurance carriers don't like to pay claims, and will construe the policy as narrowly as possible to avoid payment. There is also the matter of whether he may or may not have had inflation endorsement on the policy that would cover the full value of his home in the years following the time the title search (possibly outsourced) was performed.

Have you ever filed a claim with an insurer that refuses to pay? I have. I had a client several years ago the purchased property, and subsequently learned that there was significantly less land than he thought. There was apparently a problem with the legal description which was not caught in a sloppy title search. The title insurer relied on one of the standard exceptions to coverage to deny coverage. Could the client have litigated the issue? Certainly. Would it have been an expense for which he would not have been reimbursed? Certainly. Would the title company have settled for less than the full value of the policy for which it was liable? Probably. Would the property owner have been fully compensated for his loss? Definitely not.

Your "good economic sense" seems to be a driving force in  the industry ... beginning with the realtor who tries to get the buyer's signature on the contract before the buyer can show it to an attorney... the slovenly performed outsourced title search ... the title company's and/or lender's last minute surprises on the Hud 1 form at the closing table.

So, in so far as your good economic sense is concerned, stand by your earlier statement if you must. While the interests of the title industry may be served, there are still holes in the system which are exacerbated by the outsourcing problem. However, if the subject bores you...so be it.